RRIF & Retirement Income
Turn a Lifetime of Savings Into Reliable Income
A RRIF turns your RRSP into a steady stream of retirement income. The key is structuring withdrawals so your savings last and you keep more after tax.
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Key considerations
RRIF at a Glance
01
Minimum withdrawals
You must withdraw a minimum percentage each year, which rises with age.
02
Still invested
Your RRIF can keep holding and growing investments.
03
Taxable income
Withdrawals are taxed and can affect benefits like OAS.
04
Income splitting
From age 65, RRIF income can be split with a spouse for tax purposes.
Planning your income
How We Coordinate Your Retirement Income
- RRIF withdrawals
- CPP and OAS timing
- Workplace or private pensions
- TFSA withdrawals, which are tax-free
- Annuities for guaranteed lifetime income
Is this for you?
Who Should Consider It?
Anyone who wants a clear plan instead of guessing year to year.
- Anyone with RRSP savings approaching or in retirement
- Retirees who want to reduce tax on their income
- Couples who want to balance income between them
- Anyone worried about outliving their savings
How it works
Four Simple Steps
- ReviewWe look at all your savings across RRSPs, TFSAs, and other accounts.
- ModelWe compare withdrawal strategies and their tax impact.
- CoordinateWe align RRIF income with CPP, OAS, and pensions.
- AdjustWe revisit your plan every year as your needs change.
Questions
Frequently Asked Questions
When do I have to convert my RRSP?
By December 31 of the year you turn 71. You can convert earlier if you need income sooner.
Is tax withheld from RRIF payments?
No tax is withheld on the minimum amount. Tax is withheld on amounts above the minimum, and all withdrawals are taxable income.
Can I base my minimum on my spouse’s age?
Yes. Using a younger spouse’s age lowers the required minimum withdrawal.
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Tax rules and contribution limits change; figures reflect 2026 rules. We do not provide tax or legal advice, so please confirm your situation with your accountant. Any amount allocated to a segregated fund is invested at the risk of the contract holder and may increase or decrease in value. Investments are not guaranteed. This page is for general information and is not personalized advice. Disclosure